I’m always hearing about restaurants losing so much money in the first few years. Why?
In: 3
Because restaurants are a luxury (people don’t have to eat out) but the consumer frequently doesn’t properly assess the value of what they’re getting. They demand you to be there and cater to exactly what they want but then they don’t want to pay an amount equivalent to the full underlying costs/ value. So the balancing act of quality/ capital investment/ location/ staff vs price is brutal.
Tldr: The public sucks and doesn’t properly assess the costs that went into the price.
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